#WrapUp2018: Top 7 developments that ruled the apparel trade scenario

Year 2018 will be known for its uncertainties in apparel trade between countries. USA, the largest apparel importer in the world, triggered trade war with China, its largest apparel trade partner and sparked up massive controversy throughout the year. USA also provided never-seen-before opportunities for the countries like Bangladesh, Vietnam, Ethiopia and Cambodia which, however will never become second China, were at least successful in capturing the significant shift coming from China. On the other hand, the EU is also on its way to conclude the year with better import value than it witnessed in 2017, all thanks to Bangladesh which is fiercely rising in the European market and outperforming even China as far as year-wise growth is concerned.

Let’s take a look at some developments which positively affected global apparel trade industry in 2018.

Ethiopia inches closer to US $ 100 million mark in apparel export to USA

All eyes are on Ethiopia currently. Reason being, the country has emerged as a prominent garment manufacturing destination in last couple of years. For the first time ever, Ethiopia is about to hit US $ 100 million mark in its apparel export to USA in 2018 and that’s a positive sign for the country’s trade.

Vietnam’s apparel and textile sector has clocked an export turnover of US $ 36 billion in 2018 – an impressive increase of 16 per cent compared to 2017. Interestingly, the country surpassed its target of US $ 35 billion which was set earlier in the year.

It is not an exaggeration to say that Bangladesh has become a major go-to location for Indian retailers and the fact can be supported by the India’s apparel import data from Bangladesh which saw steep climb all through the year.

The first half of 2018 proved to be a better year for Japan’s apparel import as compared to H1 ’17. The total apparel import valued at US $ 12.42 billion in H1 ’18 marking 3.50 per cent growth on the yearly note. Japan also faired quite well in subsequent months after H1.